Bets on crypto platform Polymarket on whether Donald Trump will end up in prison before the US presidential election have risen following news of his being found guilty of financial fraud.
A positive outcome is one in which Trump spends at least 48 consecutive hours in custody any time before November 5th. 16% of the participants in the pool, which already amounts to almost $900 thousand, are betting on this.
Polymarket allows you to bet in cryptocurrency on events in the real world. The developers position the project as a “decentralized prediction market.” Each event is technically represented as a smart contract on the Ethereum blockchain. The total investment in the project is $75 million, among its investors is Peter Thiel's Founders Fund and Ethereum co-founder Vitalik Buterin.
One of the most popular events on the platform is the outcome of the US presidential election. Its participants placed bets totaling more than $140 million, and the Trump campaign even referenced the platform's data. 54% of voters bet on Trump to win.
